The hotels are Fels Point near Tralee, Co Kerry; the Maldron in Wexford; the Clonmel Park in Co Tipperary; the three-star South Court in Limerick; the Killeshin in Portlaoise, Co Laois; the four-star Osprey and Spa in Naas, Co Kildare; the Glenroyal in Maynooth, Co Kildare; and Johnstown House Hotel and Spa in Enfield, Co Meath.

While the hotels will be marketed as part of a portfolio they would be expected to be sold separately given their different geographic locations and characteristics.

The sale process is expected to begin shortly although it is not clear how much Nama will seek for the hotels.

Projects Nadal and Venue

Nama had 115 hotels on its books a year ago but has been gradually reducing its exposure to the sector. There is likely to be strong interest in the hotels, given the frenzied buying that has taken place in the sector this year.

Potential bidders would be expected to include the cash- rich Irish listed company Dalata, which is the biggest hotel operator in the country and is run by Pat McCann. It operates the Maldron brand and runs the Wexford property being marketed by Nama under a lease agreement.